The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-28
Work Of the Land Company.
An Interview With Major tGordop,
Its President.
How the Syndicate Was Organize,
and the Scheme Established.
What Progress Has Been Made in
Developing the Enterprise.
why the ktock Has High Value
Ind ducements 90 Manu-
facturers and Set
Tiers.

CHANGING over the register oil the
New Gsyoso Hotel yesterday evening,
the eye OF an APPEAL reporter caught
the name OF L. O. Gordon, Decatur, Ala.
This name was at once recognized as
that Of the president Of the Decatur
Land, Improvement and Furnace Com.
pany, which corporation has, In 80
short time, produced such marvellous
changes In the ones sleepy old town oi
Decatur, whereupon NJ ]. Gordon was
found and the following interesting
facts obtained: For many years De-
catur has been recogniz ,d by ob,erv
ing men as unusually we'll located for
q great manufacturing and commercial
city, but yet 1t was dead town. Is
beautiful cite on the east bank Of the
Tennessee river, all above oveIh ,w,
and at the crossing place oil the Louis.
vile and Nashville and Memphis and
Charleston railroads, the latter being q
part OF the East Virginia and Georgia
system; its occupying the center OF one
Of the mos. extensi 70 aud richest p7r
ton OF the coal and iron district o..
Alabama, and In the mids. Of
one Of the most BEAUTIFUL and
fertile agricultural valleys in the
world, and contiguous to vast
primeval forests Of the moet valuable
timber, seemed never to wake the con
tented inhabitants thereof from their
loug Rip Van Winkle sleep, until
Mai. +. q. Gordon and as, ciltes,
abou. the beginning Of this year, pur'
chased In and around the town abJu
5000 acres Of land, and followed Il uT
by organ z ng on the llth day Of jan
uary las, the Decatur Land, I'm
proysment and Furnace Company,
This properly, including come subss'
quent purchases, and including, aiso
about 10000 acres ol iroo, coal sn
timber lands, cost $4,000 in cash
Tie sypdicate WAS oTganiz d on h,
basis OF 81, ,0O0, 900 cash capital, 60 that
after paying Tor Gil their properties
there remained In the treasury as 0
working capital $290,0O0 In cash
The subscribers TO the tyndic,t'
then among themselves or an 20,
the present Joint stock company. A
fpi, with a capital stick OF 800,
600, the Subscribers accepting lhil
stock ne full payment for their ieepsct
i've interests in the syndicate, ant
thue m king the entire sock full pslC
and non. assesssble, so thatiesch Tub
tcriber received i7400 OF caplt-
stock for each $1,000 u
had paid into the syndicate; bu
slmu.tane ously with receiving thi
stock he transferred back In the tresn
ury of the com Dsny one third Of hi
bo,dlnRa, 20 tina. In reality there wa
only 5000 900 II stock issued, II
pfsci costing the original suosnribsl
i20 per share, ths ether " 10000,
being hold in the tire ,snTy oi the com
pany for ths hen, Il oi all the stock
hodbrs. /, was a. hAt intend d u
use tnis trea5ur5 sock hsa develop
a. z fund, but bi CO The oJmpauy ha
m ,cctuah exttaOrdiUafy salFs OF lot
~ ,f.hy iufpisbing 81 The necCss 2
funds iJr dHy lopinR the property, tn
directors have determined upon I'D
v sfug he stockholders 10 cancel III
tfrleu y .totk ~ o. ~ an enab'n
las caa be bad on TIE Lsgitlatur,
III the meluiius The direo ors hav
Vi, uaiiy retired ihs esme, by Tesolu
lion, that ilslai never b. sold at leo
than its pr value for cssh, and 90
diyidaad upon ths 5000, ,OOJ oil hioc
.ssued.
Asa largs number Of the patron
and readers OF the APPKAL aIe int
ested In the stock OF this company, N
reporter psncIlsd down 90 rapidly {
possible the above statement, made b
Msj. Gordon, and proceeded 10 appl
the reporloriAl pump Tor etill furth'
information about thst ruly wonde
iul young city, for II is the younge
and decidedly the most lively of all u
! Southern infant towoH, reckoning !
birth from the date Of iis recent resu
reciion In January last.
"Nsj ", what are some oi the mani
iacturipg industries already esta|
lished In DtcatutT -.
"well, / will somewhat invert th
order and commence With the last o.
Of gteat importance secured, nsmel
the construction shops OF the Loui
Vile and Nashville railroad system
We have decided 10 that great corpor
tIon abou. ffty.6ye acres OF land, Q
OF which will he occupied with fhop
Q round houses and tracks. The pliI
Ioy thesa great ahrp involvs tie \